On January 30, Turkish regulators announced the freezing of more than $500 million in assets belonging to Veysel Sahin, accused of operating illegal gambling platforms and engaging in money laundering activities.
This freeze represents the latest step in Turkey’s crackdown on illicit gambling and associated payment systems, bringing the total assets frozen in related cases to over $1 billion.
Tether Assists Enforcement, Reinforcing Compliance Responsibility
At the request of the Turkish authorities, Tether Holdings SA assisted in executing the asset freeze. According to Tether’s official disclosures, the company has supported law enforcement in over 1,800 cases globally, freezing $3.4 billion in USDT assets to date.
Tether’s on-chain traceability and payment capabilities allow it to rapidly respond to regulatory requirements within a compliance framework, effectively blocking illicit fund flows.
Industry Warning: Tighter Oversight on Illegal Gambling and Crypto Payments
This case highlights international regulators’ growing scrutiny of crypto payment tools used in illegal gambling and money laundering. Exchanges and stablecoin operators are urged to strengthen compliance and risk management systems, including:
- Real-time transaction monitoring and abnormal fund detection
- Coordinated compliance workflows to support law enforcement freezes
- Risk control and KYT tool implementation
Industry experts note that as global crypto payment compliance intensifies, platforms and stablecoin issuers must enhance both on-chain and off-chain compliance measures to avoid serving as conduits for illicit funds.
Conclusion
The asset freeze in Turkey, coupled with Tether’s active cooperation, underscores the critical importance of compliance and enforcement collaboration in the crypto payment ecosystem. For the global digital asset market, robust on-chain risk control and regulatory responsiveness will become key pillars of compliant operations and market trust.